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REDSTONE FEDERAL CREDIT UNION

Sep, 30, 2022 — REDSTONE FEDERAL CREDIT UNION is a federal credit union headquartered in HUNTSVILLE, AL with 38 branch locations and about $7.77 billion in total assets. Opened 72 years ago in 1951, REDSTONE FEDERAL CREDIT UNION has about 725,558 members and employs 1,252 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.


ABA Routing Number: 262275835
Name:REDSTONE FEDERAL CREDIT UNION
Address:
(Main Office)
220 Wynn Dr
HUNTSVILLE, AL 35893
Phone:(256) 837-6110
Fax:(256) 722-8399
Website:https://www.redfcu.org
Branches:38 branch locations
Members:725,558
Credit Union Type:Federal Credit Union
Charter Number:7544
Membership Type:Multiple common bond - other
Corporate Credit Union:No
Year Opened:1951
Last Audited:Jun 01, 2022
FHLB Member:Yes
Low Income Designation:No
Assets:$7,769,381,572
CEO/Manager:Joseph H Newberry
Chairperson:Dave Hargrove

Call Report

  • Credit Builder
  • Payday Alternative Loans (PAL Loans)
  • First Time Homebuyer Program
  • International Remittances
  • Low Cost Wire Transfers

Financial Summary

» See also Statement of Financial Condition
ASSETS:$ Amount
Cash & Equivalents 658,224,660
TOTAL INVESTMENTS 0
Loans Held for Sale 2,509,687
 
 Real Estate Loans 1,500,566,613
 Unsecured Loans 521,022,125
 Other Loans 1,385,610,323
 TOTAL LOANS 3,407,716,240
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -33,351,230
 Land And Building 126,647,052
 Other Fixed Assets 26,520,912
 NCUSIF Deposit 62,364,004
 All Other Assets 1,295,461
  TOTAL ASSETS 7,769,381,572
LIABILITIES & CAPITAL:  
 Dividends Payable 20
 Notes & Interest Payable 259,806,317
 Accounts Payable & Other Liabilities 74,989,972
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 0
 Share Drafts 1,388,312,315
 Regular shares 3,147,127,018
 All Other Shares & Deposits 2,475,962,712
  TOTAL SHARES & DEPOSITS 7,011,402,045
  TOTAL LIABILITIES 7,346,198,354
 Regular Reserve 0
 Other Reserves -378,311,193
 Undivided Earnings 801,494,411
  TOTAL EQUITY 423,183,218
  TOTAL LIABILITIES, SHARES, & EQUITY 7,769,381,572
INCOME & EXPENSE  
 Loan Income 112,880,838
 Investment Income 50,666,754
 Other Income 23,559,742
 Total Employee Compensation & Benefits 83,150,837
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 90,414,210
 Non-operating Income & (Expense) -283,002
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense 16,964,414
 Cost of Funds 12,436,006
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) 47,084,705
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